Go Back  British Expats > Living & Moving Abroad > Australia
Reload this Page >

1.93's A$ to the Pound!!!

1.93's A$ to the Pound!!!

Old May 30th 2010, 12:51 pm
  #1741  
BE Forum Addict
 
freebo's Avatar
 
Joined: Feb 2008
Location: Hope Island, Gold Coast
Posts: 1,920
freebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by wilf70
As usual read Freebo's and Mr cro's threads with interest.But a factor you mention,but I think underestimate is the Korean 'thing'.At the moment most people think that any conflict will be unintended but would spread quickly[I'm not so sure--the nth korean leadership is not rational].But a premeditated invasion is low--but how many pundits would have said;a few weeks ago, that the nth koreans would deliberately sink a sth korean ship.The level of tension[and therefore accidental war] can be judged by the fact that the nth koreans allowed the meeting of their military command cttee to be filmed by foreign media.This is a measure of how belligerent they feel.Relations between nth and sth have been deteriorating for about 18 mths and the leadership is becoming evermore erratic.Despite an economic boom the sth is very concerned[allegedly]about its sovereign debt and recently had meetings with members of the credit rating agencies to reassure them as to how it intends to deal with the problem of the decrepit and destitute nth.Don't forget that the korean won has fallen by 12% since May.If panic breaks out it is possible that the sth may try to ressurrect its currency swap arrangement with the Federal reserve as an insurance policy.As for China having influence/power over the nth--if that were the case would they have torpedoed a sth korean warship without first getting thier say-so??.China just wants to contain the crisis not take it off the boil--its a distraction for the US from such things as China not raising the Yuan against the $.The Dear-leader likes to shout the odds now and again--but this time I sense it is different;he is elderly and ill[had a stroke] and other factions are making power plays and this is his reply.In the past he has shown himself to be an excellent poker player but this time has he decided to go out in a 'blaze of glory'??.My guess;for what its worth is some form of run on the markets;a military confrontation probably at sea over something like fishing rights and then a much larger conflict that has the potential to get fully out of control.Remember both the sth and the US fleet are at sea and on alert at the moment and elements of the Russian navy are soon to carry out training exercises off the coast.Also the sth is on an alert that is one level below imminent conflict---all it need is some nervous soldier to make a mistake.
Wilf, I often read what you have to say with interest but could I suggest breaking it up using paragraphs, it makes it much easier to read.

No offense intended at all.
freebo is offline  
Old May 30th 2010, 1:17 pm
  #1742  
Banned
 
mr mover's Avatar
 
Joined: Apr 2003
Location: Angle vale Sth Australia
Posts: 5,353
mr mover has a reputation beyond reputemr mover has a reputation beyond reputemr mover has a reputation beyond reputemr mover has a reputation beyond reputemr mover has a reputation beyond reputemr mover has a reputation beyond reputemr mover has a reputation beyond reputemr mover has a reputation beyond reputemr mover has a reputation beyond reputemr mover has a reputation beyond reputemr mover has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
Wilf, I often read what you have to say with interest but could I suggest breaking it up using paragraphs, it makes it much easier to read.

No offense intended at all.
He has been programmed by "The DEAR LEADER".........mm
mr mover is offline  
Old Jun 1st 2010, 12:04 pm
  #1743  
BE Enthusiast
Thread Starter
 
Joined: Jun 2008
Posts: 730
MrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of light
Default Re: 1.93's A$ to the Pound!!!

£ over 1.74 again today so I take it interest rates stayed level in Australia!?
MrCro is offline  
Old Jun 1st 2010, 12:19 pm
  #1744  
Forum Regular
 
Joined: Feb 2010
Posts: 181
wilf70 will become famous soon enoughwilf70 will become famous soon enough
Unhappy Re: 1.93's A$ to the Pound!!!

From the 'Dear-Leader'[couldn't resist that]--Spain and its downgrade part of the problem.But on a site called Economywatch.com[sometimes on Facebook]there is a very interesting article titled 'China bust may have begun--bond rates up'.Ithink the markets are starting to factor in the growing structural weaknesses of china and its knock effects on Australia...somewhere I saw someone say thay Oz was two years behind Europe;I think time is up
wilf70 is offline  
Old Jun 1st 2010, 12:22 pm
  #1745  
BE Forum Addict
 
freebo's Avatar
 
Joined: Feb 2008
Location: Hope Island, Gold Coast
Posts: 1,920
freebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by MrCro
£ over 1.74 again today so I take it interest rates stayed level in Australia!?
Correct. My next buy level is 1.85, now I've got the AUD I need for the time being I don't care if it takes 5 years, but I may change my mind at any time

I'm still buying Gold bullion though.
freebo is offline  
Old Jun 1st 2010, 12:32 pm
  #1746  
Forum Regular
 
Joined: Feb 2010
Posts: 181
wilf70 will become famous soon enoughwilf70 will become famous soon enough
Arrow Re: 1.93's A$ to the Pound!!!

Hope everything is OK for you and family---I think it was Warren Buffet who said gold could become the ultimate bubble--caution??.I admit it is not a commodity etc I follow.Why do I keep having a feeling we are all stood on the edge of a precipice debating who is going to jump first.I must get my crystal ball out[no jokes please]and try to be more positive.Go away nagging doubts!!!!
wilf70 is offline  
Old Jun 1st 2010, 12:40 pm
  #1747  
BE Enthusiast
 
Les Avalook's Avatar
 
Joined: Jun 2009
Location: Wivenhoe
Posts: 595
Les Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of lightLes Avalook is a glorious beacon of light
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by freebo
Correct. My next buy level is 1.85, now I've got the AUD I need for the time being I don't care if it takes 5 years, but I may change my mind at any time

I'm still buying Gold bullion though.

I am with you on that, will wait until we get some $1.80s before changing any more £s. We have our first years money, bought at an average of $2 to £ sitting in an off-set account on our son's Aus mortgage where it does him a lot more good than the UK interest rates would gives us.
Les Avalook is offline  
Old Jun 1st 2010, 12:45 pm
  #1748  
BE Forum Addict
 
freebo's Avatar
 
Joined: Feb 2008
Location: Hope Island, Gold Coast
Posts: 1,920
freebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by wilf70
Hope everything is OK for you and family---I think it was Warren Buffet who said gold could become the ultimate bubble--caution??.I admit it is not a commodity etc I follow.Why do I keep having a feeling we are all stood on the edge of a precipice debating who is going to jump first.I must get my crystal ball out[no jokes please]and try to be more positive.Go away nagging doubts!!!!
Gold is not a commodity Gold is money, FIAT currency is just little bits of paper, an IOU from a government who can't possibly repay the debt. Many people don't realise there is more risk in cash and certainly more in shares than there is in Real Money - i.e. precious metals. Of course govts (who issue the currency) and investment advisers (who want to sell you shares) will try to tell you different.

"Gold is money and nothing else" - JP Morgan

I keep posting this graph but why is this not making the news...



if you put your money in the Dow in 2000 it would have lost value over that time.

IMHO, DYODD.
freebo is offline  
Old Jun 1st 2010, 12:47 pm
  #1749  
Lost in BE Cyberspace
 
Alfresco's Avatar
 
Joined: Jan 2009
Location: Brisbane
Posts: 20,821
Alfresco has a reputation beyond reputeAlfresco has a reputation beyond reputeAlfresco has a reputation beyond reputeAlfresco has a reputation beyond reputeAlfresco has a reputation beyond reputeAlfresco has a reputation beyond reputeAlfresco has a reputation beyond reputeAlfresco has a reputation beyond reputeAlfresco has a reputation beyond reputeAlfresco has a reputation beyond reputeAlfresco has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Back to $1.75ish.
Alfresco is offline  
Old Jun 1st 2010, 12:53 pm
  #1750  
BE Enthusiast
Thread Starter
 
Joined: Jun 2008
Posts: 730
MrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of light
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by Alfresco
Back to $1.75ish.
Just had a closer look and A$ is dropping against US$ but £ going up against US$ for some reason?

Can't see any news of data released that would help that.

So relative strength is pushing up the £ vs A$!

I'll be buying at 2:1 by time we go in Sept!!!!!
MrCro is offline  
Old Jun 1st 2010, 2:08 pm
  #1751  
Forum Regular
 
Joined: Apr 2009
Posts: 252
littda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nice
Default Re: 1.93's A$ to the Pound!!!

MrCro - you are a serious UK optimist if you forsee 2AUDs for your GBP by September :-) Obviously anythings possible in these crazy times, and a short rally is always possible... but there's v little to suggest any serious strength in the UK econ, and the £ doesn't seem to be considered much of a safe haven any more.

If I had any £s left I'd be all over selling them at 1.80! JMO.
littda01 is offline  
Old Jun 1st 2010, 3:30 pm
  #1752  
BE Enthusiast
Thread Starter
 
Joined: Jun 2008
Posts: 730
MrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of lightMrCro is a glorious beacon of light
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by littda01
MrCro - you are a serious UK optimist if you forsee 2AUDs for your GBP by September :-) Obviously anythings possible in these crazy times, and a short rally is always possible... but there's v little to suggest any serious strength in the UK econ, and the £ doesn't seem to be considered much of a safe haven any more.

If I had any £s left I'd be all over selling them at 1.80! JMO.
You only have to look at late 2008, £ had been around 2:1 all year and after panic on stocks it shot upto 2.60+ (think even hit 2.70 one day)

That had nothing at all to do with £ strength either.

Nothing can be written off and the world certainly isn't over the worst of this recession!
MrCro is offline  
Old Jun 1st 2010, 4:07 pm
  #1753  
Forum Regular
 
Joined: Apr 2009
Posts: 252
littda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nicelittda01 is just really nice
Default Re: 1.93's A$ to the Pound!!!

Agree, that would be one of the short-term rallies I was referring to... agree also recovery is still far from certain... but dont think that the GBP will benefit as much in future in those scenarios as it did in 2008, due to the clearer picture of the state of the UK economy.
littda01 is offline  
Old Jun 1st 2010, 6:14 pm
  #1754  
Forum Regular
 
Joined: May 2009
Location: Brisbane
Posts: 192
mark wool is a splendid one to beholdmark wool is a splendid one to beholdmark wool is a splendid one to beholdmark wool is a splendid one to beholdmark wool is a splendid one to beholdmark wool is a splendid one to beholdmark wool is a splendid one to beholdmark wool is a splendid one to beholdmark wool is a splendid one to beholdmark wool is a splendid one to beholdmark wool is a splendid one to behold
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by littda01
Agree, that would be one of the short-term rallies I was referring to... agree also recovery is still far from certain... but dont think that the GBP will benefit as much in future in those scenarios as it did in 2008, due to the clearer picture of the state of the UK economy.
wait till you are told the true state of the oz economy and the only thing proping it up.
mark wool is offline  
Old Jun 1st 2010, 10:22 pm
  #1755  
BE Forum Addict
 
freebo's Avatar
 
Joined: Feb 2008
Location: Hope Island, Gold Coast
Posts: 1,920
freebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond reputefreebo has a reputation beyond repute
Default Re: 1.93's A$ to the Pound!!!

Originally Posted by mark wool
wait till you are told the true state of the oz economy and the only thing proping it up.
Agree, there's no reason to expect GBP to get particularly stronger but there are many reasons that AUD could fall from here. I also agree that 2:1 by September looks less than likely but anything could happen.

IMHO the world economy is a complete basket case and the GFC was just postponed, not fixed. AUD is a "risk currency" and if/when appetite for risk disappears it will drop. Just take a look at a chart of GBPAUD for the latter part of 2008.

EDIT - cross rate currently 1.765, and the equity markets are down, today is looking like another "risk off" day...

Last edited by freebo; Jun 1st 2010 at 10:53 pm.
freebo is offline  

Contact Us - Archive - Advertising - Cookie Policy - Privacy Statement - Terms of Service -

Copyright © 2024 MH Sub I, LLC dba Internet Brands. All rights reserved. Use of this site indicates your consent to the Terms of Use.